As a research consultant, you are tasked with taking ambiguous and complicated research situations and designing studies to gain insight into consumer behavior. Your clients rely on you to analyze the data you gather. Then they expect you to share key insights and strategies on how to move forward and use the data for the better of the business.
But, as a research consultant, you are also faced with limitations, just like other consultants in any industry—there’s only so much you can do. You may be exceptional in some areas of research and then lack capabilities or resources in other areas. While you’re aware of your limitations, your clients may not be. And they still look to you to drive their research initiatives.
Reliance on vendors
Because of these natural limitations, most research consultants turn to outside research partners to fill the services gap. Building a trusted network of vendors you can rely on takes a lot of time and effort in and of itself. Once you find a potential research partner, there continues to be an introductory period where both parties see how they operate and communicate.
The stakes tend to be high with these relationships, and not just because of your time and effort spent to find a new vendor. It’s because your relationship—and deadlines—with your end client often rests on this critical vendor relationship. You put trust into vendors to be consistently on time and within budget, no exceptions. Communication and project management is critical; if you feel this is lost along the way, you may have to resort to a trust but verify method, which is time consuming and tough to maintain as you continue to onboard additional customers.
Finally, research partners can be expensive, although necessary. You are likely in a situation where you don’t feel you can significantly mark up your vendors’ fees and services to your end client, for fear of putting the client relationship at risk.
Finding trusted vendors
Finding research partners should be something you are constantly aware of and working on. Create a list of referrals and note which services or industries they specialize in. When you come across a partner opportunity, you’ll first want to let them know you’re the decision maker. Next, ask them these two questions: (1) what is your target market and (2) what is your expertise?
Based on the research partner’s answers to these questions, you can gain an immediate understanding of their background and if they are someone you want to work with. If they tell you they work with nearly everyone and do not specialize, well, that is a red flag. This may also be a sign that they aren’t very familiar with the business or are poorly trained. While there are companies out there, very large ones, that insist they specialize in every aspect of research, you should never feel like you have to settle and be one small customer out of a thousand.
Verify the research partner
Sticking with a small or mid-size research partner may be your best bet, because the amount of business you bring to them will matter and be noticed. They are more likely to appreciate you and work for your business versus a large corporation.
To verify their capabilities, make sure there’s consistency between the business website, LinkedIn and what you’re hearing from the vendor representative. If you discover discrepancies, ask about them. And finally, ask for at least two to three referrals from satisfied clients. This takes time and follow through, but will be well worth it to verify the vendor and receive peace of mind.
Making the Selection
When you sit down with a research vendor to finalize your selection and formalize the partnership with them, there are a few things to watch for. If the representative you’re working with cannot intelligently discuss their services and how they will be specifically aiding your research, then you need to move on. Remember, you’re looking for a partner and it should not have to be one you have to micromanage.
Specifically ask about timing, project communication, expected deliverables and ongoing responsibilities. It’s critical you receive clarity about which party owns which aspects of the research process. Discuss communication style and make sure you have contact information for every person on their research team.
Project Launch
To kick things off on a positive note, begin with a project launch call. Include your research team lead on the vendor size, usually someone in a project manager type of role. This is your time to communicate expectations, deliverables required and expected outcomes. Provide feedback if you don’t feel you’re receiving the immediate support you require. Measure performance along the way, take good notes and make sure the two of you are speaking in a common language. For example, if they are using terms you don’t understand, you need to clarify the terms immediately. It’s also a good idea to send follow-up notes to make sure there’s documentation after each call.
Communications for Research (CFR) is committed to exceeding our client expectations in research. If you have any questions about how to find the right research partner for your consulting business, or would like to know more about CFR, please contact us here.